ACCI : Port Users Lose N1.5bn Daily

Prince Adetokunbo Kayode, ACCI President The Abuja Chamber of Commerce and Industry (ACCI) has said that Apapa Port users lose about N1.5 billion daily even as the cost of doing business in Nigeria has risen to about 400 per cent.

Speaking at a roundtable discussion on Apapa Port Challenges organised by the Policy Advocacy Centre (PAC) of the ACCI held in Abuja yesterday, the President of the Chamber, Prince Adetokumbo Kayode, said cost of container transport within Lagos has risen from N40,000 to N400,000 while cost of container transport outside Lagos has skyrocketed from N60,000 to N600,000.

Prince Kayode also said container deposit of between N500,000 to 1.2 million was becoming non-refundable due to container delay penalty while demurrage charges grew harshly due to cargo movement delay. The industrialist said Nigeria is losing port patronage to neighbouring countries and there has been increase in prices of consumer goods by about 300 per cent. “Resolving the Port challenges is a step to stop imminent risk of recession,” Price Kayode said.

A policy expert, Olumuyiwa Alaba, said Nigeria needs to devise alternative means of transporting containers out of the Apapa Port, including using waterways and railways. Alaba said there was need for coordination of all agencies working in the port for seamless inspections and approvals. The expert said the government should fix the Apapa road as part of the first step in clearing the gridlock affecting ease of access into the Port.